PPG €1 billion notes offering
Davis Polk advised the joint book-running managers in connection with an SEC-registered offering by PPG Industries, Inc. of €300 million aggregate principal amount of 1.875% notes due 2025 and €700 million aggregate principal amount of 2.750% notes due 2029.
Founded in 1883 with headquarters in Pittsburgh, PPG operates in more than 75 countries and reported net sales of $16.8 billion in 2021. PPG supplies paints, coating and specialty materials to customers in construction, consumer products, industrial and transportation markets and aftermarkets.
The Davis Polk capital markets team included partner Byron B. Rooney, counsel Jennifer Ying Lan and associates Tianwei Liu and José Miguel Fernández. The environmental team included counsel Loyti Cheng and associate Timothy J. Sullivan. Counsel Alon Gurfinkel and associates Omer Harel and Michael Mirabella provided tax advice. Members of the Davis Polk team are based in the New York and London offices.